The optimal level of provision of ________ goods is where society's total willingness to pay per unit is equal to the marginal cost of producing the good.
A. normal
B. private
C. public
D. all
Answer: C
You might also like to view...
A supply shock is an ________ event that shifts the aggregate ________ curve
A) external; supply B) external; demand C) internal; demand D) internal; supply
Which of the following statements is FALSE concerning monopolistic competition?
A) There are many firms. B) Firms sell a differentiated product. C) Each firm's actions influence rival firms. D) Firms are free to enter and exit.
Explain the difference between absolute and comparative advantage, giving an example of your answer
Because of its effect on the amount of capital per worker, in the short term an increase in the working population is likely to
a. raise productivity. Other things the same, this increase will be larger in a poor country. b. raise productivity. Other things the same, this increase will be larger in a rich country. c. reduce productivity. Other things the same, this decrease will be larger in a poor country. d. reduce productivity. Other things the same, this decrease will be larger in a rich country.